Medicus Pharma Ltd (MDCXW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MDCXW SEC filings page.
This page shows Medicus Pharma Ltd (MDCXW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
External financing is carrying a rapidly expanding expense base as cumulative losses erode Medicus Pharma’s balance-sheet cushion
By FY2025, the net loss reached-$47.3M while operating cash flow was-$22.8M ; the narrower cash outflow suggests substantial noncash or timing effects in reported earnings, but operations still did not fund themselves. That gap was bridged by financing cash flow of$31.9M , making outside capital central to the period’s cash mechanics.
The operating loss widened to
Total equity fell from
Financial Health Signals
Medicus Pharma Ltd does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Medicus Pharma Ltd passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Medicus Pharma Ltd reported a net loss of $47.3M while operations used $22.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Medicus Pharma Ltd reported an operating loss of $34.4M against $197K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Medicus Pharma Ltd reported -$11.6M in net income in Q2 2026. This represents a decrease of 88.1% from the same quarter a year earlier. Against the prior quarter it is down 28.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Medicus Pharma Ltd held $15.2M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
Medicus Pharma Ltd invested $4.9M in research and development in Q2 2026. This represents an increase of 240.9% from the same quarter a year earlier. Against the prior quarter it is up 81.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
MDCXW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $4.9M+240.9% | $2.7M+34.8% | N/A | $1.7M+198.6% | $1.4M+12.7% | $2.0M+524.3% | N/A | $564K |
| SG&A Expenses | $6.6M+43.6% | $5.9M+88.9% | N/A | $5-100.0% | $4.6M+101.0% | $3.1M+125.1% | N/A | $1.8M |
| Operating Income | -$11.5M-90.8% | -$8.6M-67.7% | N/A | -$15+100.0% | -$6.0M-69.3% | -$5.1M-200.2% | N/A | -$2.3M |
| Interest Expense | $206K | $375K | N/A | $12K-79.2% | $0+100.0% | $0 | N/A | $56K |
| Net Income | -$11.6M-88.1% | -$9.0M-77.2% | N/A | -$20.9M-818.7% | -$6.2M-70.0% | -$5.1M-198.8% | N/A | -$2.3M |
| EPS (Basic) | -$0.21+51.2% | -$0.31+26.2% | -$0.83-159.4% | -$1.12-366.7% | -$0.43+2.3% | -$0.42-100.0% | -$0.32 | -$0.24 |
| EPS (Diluted) | -$0.21 | -$0.31 | -$0.83 | -$1.12 | -$0.43 | -$0.42-100.0% | -$0.32 | -$0.24 |
| Diluted Shares (Avg) | 55M | 30M | N/A | 19M | 14M | 12M+51.6% | N/A | 10M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, EBITDA, Income Tax.
MDCXW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $27.1M+127.2% | $7.4M+31.3% | $10.1M+78.2% | $10.0M | $11.9M | $5.7M | $5.6M+198.3% | N/A |
| Current Assets | $17.0M+54.4% | $7.3M+43.1% | $9.9M+83.9% | $9.8M | $11.0M | $5.1M | $5.4M+184.1% | N/A |
| Cash & Equivalents | $15.2M+56.9% | $6.4M+59.8% | $8.7M+109.0% | $8.7M+63.2% | $9.7M+15.0% | $4.0M+634.2% | $4.2M+142.2% | $5.3M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $28.8M+232.0% | $6.0M+70.9% | $10.0M+299.0% | $10.8M | $8.7M | $3.5M | $2.5M+221.4% | N/A |
| Current Liabilities | $10.8M+26.9% | $6.0M+78.5% | $9.9M+330.9% | $10.7M | $8.5M | $3.3M | $2.3M+195.1% | N/A |
| Non-Current Liabilities | $18.0M+12597.9% | $45K-74.1% | $86K-58.2% | $125K | $142K | $174K | $206K | N/A |
| Total Equity | -$1.8M-154.3% | $1.3M-38.3% | -$68K-102.2% | -$910K-119.0% | $3.2M-54.1% | $2.1M+483.5% | $3.1M+182.0% | $4.8M |
| Retained Earnings | -$85.0M-111.6% | -$73.4M-115.8% | -$64.3M-122.6% | -$5 | -$40.2M | -$34.0M | -$28.9M-62.9% | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
MDCXW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.0M-27.7% | -$9.0M-127.6% | -$6.6M-107.1% | -$6.8M-117.9% | -$5.5M-97.0% | -$3.9M-234.9% | -$3.2M | -$3.1M |
| Stock-Based Compensation | $1.4M+1097.0% | $599K+433.8% | N/A | $853K | $117K-79.9% | $112K+212.3% | N/A | $0 |
| Investing Cash Flow | N/A | N/A | $0 | N/A | N/A | N/A | $0 | N/A |
| Financing Cash Flow | $25.5M+128.8% | $6.8M+81.6% | $6.7M+224.6% | $10.4M | $11.2M+4.8% | $3.8M | $2.0M | $0 |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
MDCXW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | N/A | -681.9%-444.3pp | N/A | N/A | -190.1%-138.8pp | -237.6% | N/A | -47.5% |
| Return on Assets | -42.8%+8.9pp | -121.8%-31.6pp | N/A | -209.8% | -51.7% | -90.2% | N/A | N/A |
| Current Ratio | 1.57+0.3x | 1.22-0.3x | 1.00-1.3x | 0.92 | 1.29 | 1.53 | 2.33-0.1x | N/A |
| Debt-to-Equity | N/A | 4.52+2.9x | N/A | N/A | 2.67 | 1.63 | 0.80+0.1x | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$68K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (1.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Medicus Pharma Ltd Ranks
Frequently Asked Questions
Is Medicus Pharma Ltd profitable?
No, Medicus Pharma Ltd (MDCXW) reported a net income of -$47.3M in fiscal year 2025.
What is Medicus Pharma Ltd's operating cash flow?
Medicus Pharma Ltd (MDCXW) recorded an outflow of $22.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Medicus Pharma Ltd's total assets?
Medicus Pharma Ltd (MDCXW) had $10.1M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Medicus Pharma Ltd spend on research and development?
Medicus Pharma Ltd (MDCXW) invested $7.7M in research and development during fiscal year 2025.
What is Medicus Pharma Ltd's current ratio?
Medicus Pharma Ltd (MDCXW) had a current ratio of 1.00 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Medicus Pharma Ltd's return on assets (ROA)?
Medicus Pharma Ltd (MDCXW) had a return on assets of -469.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Medicus Pharma Ltd's debt-to-equity ratio negative or not reported?
Medicus Pharma Ltd (MDCXW) has negative shareholder equity of -$68K as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Medicus Pharma Ltd's Piotroski F-Score?
Medicus Pharma Ltd (MDCXW) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Medicus Pharma Ltd's earnings high quality?
Medicus Pharma Ltd (MDCXW) reported a net loss of $47.3M while operations used $22.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Medicus Pharma Ltd cover its interest payments?
Medicus Pharma Ltd (MDCXW) reported an operating loss of $34.4M against $197K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.